Accounting is surely an important part of every business process. It doesn’t matter whether you are in the FMCG industry or in the construction industry, you just can’t ignore accounting. All your efforts of growing your company and making it successful will go astray if you will not be able to take care of your accounting. There are many examples of businesses crumbling down like sandcastle just because they were not able to take care of their accounting procedures.
If you are looking forward to managing your accounts well then you just can’t stay dependent upon the old-aged solutions as they don’t only pose many challenges but they also make your accounting dull and boring as well. This is where cloud accounting comes into the picture. Cloud accounting is an advanced form of accounting that is being used by many businesses all around the world. Instead of using the traditional accounting solution, you should switch to cloud accounting solution without any second thought. In order to take advantage of the latest technology, most of the small and medium-sized businesses are flocking to cloud accounting solution. But do you really know what cloud accounting is? Let’s understand cloud accounting in a detailed manner.
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What is cloud accounting?
Cloud accounting is basically using desktop accounting software on the cloud platform. You might be thinking that cloud accounting is a completely new and technically complex solution but that’s not true. While using cloud accounting solution, you have to work on the same UI of the desktop accounting software but you will get the advantage of cloud. Cloud accounting is a very cheap solution and this is why each and every kind of business can go for it. Many businesses don’t move to cloud accounting solution because they think it is very expensive but that’s not true. If you are looking forward to streamlining your accounting and empower your accountants with the latest technology then you should abandon your traditional accounting solution and shift to cloud accounting, regardless of your business size, type, and industry.
How cloud accounting works?
In order to shift to cloud accounting solution, first of all, you will need to have a desktop accounting software that is compatible with the cloud platform. Accounting solutions like Hosted QuickBooks are completely compatible with cloud and people use QuickBooks cloud hosting without any hassle. You will have to choose a cloud hosting provider in order to shift your accounting software to the cloud. There are many cloud hosting providers in the market and choosing the best one depends on your needs and requirement. After choosing the cloud vendor, your desktop accounting software will be shifted to the cloud server of the cloud vendor.
Then you will be able to access your accounting software and its data from any device that has internet access. You don’t need to install the accounting software on a device. After shifting to the cloud , you can use your accounting software just by using the RDP and entering your login credentials. You will be charged by the cloud vendor on per month, per user basis. You can even you use your mobile and tablet for accessing your software from anywhere and at any time.
Which type of business can shift to cloud accounting?
Cloud accounting is not limited to a particular industry or business. Each and every type of business can go for cloud accounting as it is very easy to use. Even if you don’t have professional accountants in your business, still you will be able to use cloud accounting solutions without any hassle. You also don’t need to be an IT expert in order to use this advanced solution. In addition to this, the size of business also doesn’t limit anyone from choosing this solution. Even if have a very limited budget, still you can go for cloud accounting solution as it is very economical and can easily fit in your budget.
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What are the advantages of cloud accounting solution?
There are many advantages of moving to the cloud accounting solution and we have listed some of them in this blog post.
Heightened security– One of the most talked about benefits of cloud accounting is heightened security. Keeping your financial data safe is a very necessary and cloud accounting solution that allows you to provide bank-level security to your financial data.
High uptime– You will never face long downtimes after switching to cloud accounting solution. Most of the cloud vendors offer 99.95% of high uptime and it means only a few minutes of downtime in a year.
Global accessibility– One of the most obvious benefits of cloud accounting is global accessibility. When you will switch to cloud accounting then you will be able to use the software at anytime and from anywhere.
Jeff Morgan is a writer at NetworksGrid with several years of experience in the IT industry. She loves writing and exploring the world of technology while making the digital platform a more informative platform. Technology is what she eats and drink and she has a firm grasp on topics like managed IT service and managed NOC service.